The Government of the United Arab Emirates (UAE) and the World Economic Forum have signed a Memorandum of Understanding (MoU) to establish the Global Regulatory Innovation Platform (GRIP).
This milestone agreement was announced during the 55th Annual Meeting of the World Economic Forum, held in Davos, Switzerland.
The platform aims to analyze, assess, and create human-centered legislation that effectively serves communities in an age of rapid technological and digital progress. It will provide a supportive environment for regulatory innovation, equipping stakeholders with cutting-edge tools and methodologies to assess the readiness and effectiveness of legislative frameworks.
Additionally, GRIP seeks to promote international collaboration on flexible governance models to address future challenges and opportunities.
Maryam bint Ahmed Al Hammadi, UAE Minister of State and Secretary-General of the Cabinet, said that, “The partnership with the World Economic Forum to establish and launch the Global Regulatory Innovation Platform embodies the vision and directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. This initiative reinforces the UAE’s role as a leading regional and global hub for international cooperation and supports global efforts to achieve comprehensive and sustainable development, fostering stability, prosperity, and well-being for all communities.”
The UAE Minister of State further noted that, “The platform aligns with the UAE’s forward-looking approach to fostering innovation across all sectors, particularly in legislative frameworks. Over recent years, this commitment has resulted in the UAE achieving an unprecedented milestone by modernizing over 80 percent of its national legislation, reflecting its adaptability and progressiveness.”
“The launch of GRIP enhances the UAE’s position as a global hub for international organizations, businesses, and institutions seeking a supportive and flexible regulatory environment. It also positions the UAE as a knowledge center and a platform for sharing expertise in cutting-edge legislative developments,” Al Hammadi concluded.
